PJT Partners (NYSE:PJT) Raised to “Hold” at Zacks Research

PJT Partners (NYSE:PJT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on PJT. UBS Group boosted their price target on PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Wednesday, April 1st. Wall Street Zen cut PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $173.33.

PJT Partners Price Performance

Shares of PJT stock opened at $150.65 on Monday. The business has a 50-day moving average of $154.93 and a 200 day moving average of $157.54. PJT Partners has a 1-year low of $127.73 and a 1-year high of $195.62. The stock has a market capitalization of $3.89 billion, a PE ratio of 21.96 and a beta of 0.85.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.03. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The firm had revenue of $418.20 million during the quarter, compared to the consensus estimate of $409.38 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s revenue was up 28.9% on a year-over-year basis. Analysts anticipate that PJT Partners will post 7.5 EPS for the current year.

Insider Buying and Selling at PJT Partners

In other news, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. The trade was a 59.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by company insiders.

Institutional Trading of PJT Partners

Several institutional investors have recently added to or reduced their stakes in PJT. Wasatch Advisors LP raised its stake in shares of PJT Partners by 40.4% in the first quarter. Wasatch Advisors LP now owns 824,537 shares of the financial services provider’s stock worth $115,204,000 after purchasing an additional 237,428 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PJT Partners by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock valued at $114,195,000 after buying an additional 16,388 shares in the last quarter. Morgan Stanley boosted its position in shares of PJT Partners by 7.5% in the fourth quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock worth $110,307,000 after purchasing an additional 45,758 shares during the period. Congress Asset Management Co. increased its stake in shares of PJT Partners by 9.9% in the fourth quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock worth $97,632,000 after purchasing an additional 52,548 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of PJT Partners by 3.2% during the 4th quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock valued at $89,595,000 after purchasing an additional 16,445 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.